Roberto has a basis of $7,425 in a partnership at the beginning of the year. He receives $8,900 in cash distributions, his distributive share of income is $4,450, and he receives a land distribution with a basis of $7,425 (FMV $14,850).
Roberto has a basis of $7,425 in a partnership at the beginning of the year. He receives $8,900 in cash
distributions, his distributive share of income is $4,450, and he receives a land distribution with a basis of $7,425 (FMV $14,850).
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